Finance

• Accountant


  Records and maintains all the companies transactions in order to ensure its profit is lower than its expenditure
• Business bankers


  Helps SMEs raise funds and manage finances by providing loans and adivce.
• Customer service


  Look after consumers needs
• Financial and Mortgage advisers

  Provide regulated financial advice on several matters such as buying a home.
• Operations


  Do all the administrative work needed to run a business.
• Regulators


  Ensure companies are operating within the law
• Investment Banker


  Provide advice for major companies.
• Claims Handlers 


  Manage claims made by consumers on insurance policies.
• Actuaries


  Asses how likely a company has to pay claims on a particular risk.
• Insurance Brokers


  Find right insurance for consumers and sell it to them.
• Loss Adjusters


  Investigate large insurance claims.
• Underwriters


  Decide weather the company should cover the risk or not and how much the premium cost should be.
• Measure inflation


  RPI-Retail Price Index CPI-Cost Price Index
• Challenger Banks


  Aim to disrupt the industry by offering innovative services and better costumer service.
• Pros of Challenger Banks

  Pros-Lower fees,better interest rates
• Cons of Challenger banks

  Do not have the same level of protection as regular banks
• Open Banking


  A system that provides third-party access to financial data with the use of APIs
• Cons of Open Banking


  Security concerns, not demographically for everyone.
• Pros of Open Banking

  Easier and faster access to transactions
• Mobile Banking


  The act of making financial transactions on your phone.
• Cybersecurity


  The application of technologies, processes and controls to protect systems, and computers from cyberattacks.
• Examples of Cybersecurity


  Antivirus Software: Software on a PC to protect against the intrusion of harmful viruses. Dual authentication: Two different methods to gain access, unique code and password.
• Cybercrime examples


  Pishing: The attacker tries to be the consumer or company to steal someone's details Identity theft: Getting someone else's financial information with the purpose of making transactions of their name.
• Cloud Based Banking


  Enables consumers to access multiple banking services at any time.
• QR Code Payments


  Consumer scans a code that takes them to a website were they can enter the owed amount and card details.
• Super apps


  Offer services like account creation,fund transfers and bill payments.
• Data Protection Act


  Ensures that data is looked after correctly.
• Fintech Pros


  Reduced costs for companies, easier and faster.
• Fintech Cons


  Cybercimes, Not everyone likes financial technology.
• Comparison Websites


  Helps consumers save money
• Comparison Websites Pros


  Specialised advice in order for consumers to save money and easy to use.
• Comparison Websites Cons


  Not as accurate and Only focus on cost.
• FCA


  Ensures companies are working correctly for the safety of costumers.
• PRA


  Ensures Companies are operating within the law in a safe and sound way.
• CMA


  Promotes safe competition for businesses.
• FSCS


  If a bank goes bankrupt the FSCS gives the consumer £85,000 in return out of their savings (estimate) £170,000 for joint accounts.
• FOS


  Handles consumer complaints if the consumer did not get a response from the company or is not satisfied with the company's response.
• FPC


  Deals with any risk which could affect the company.
• ESG (Environmental)


  What the business does to make a good environmental impact.
• ESG (Social)


  How the business impacts society as a whole.